RadioShack’s shambling remains were given another jolt of life today. General Wireless Radioshack… when they were acquired by another company that plans to relaunch the once-great retailer as an online-focused brand.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales potential,” and the business is “positive” it can further raise awareness of the brand name worldwide.
REV declares it’s successfully turned around other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income in between the 2nd and very first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody aiming to get tech essentials. For a long period of time, that suggested actual radio parts, but wound up including great deals of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined significantly as online shopping got here, and the company applied for personal bankruptcy two times in the past 5 years. RadioShack still certifies its name to third-party “authorized” stores and offers branded items within some locations of HobbyTown, a crafts retailer– similar to how you can still find “Sharper Image” items at Kohl’s even though that retailer shut its physical doors over a decade back. REV didn’t state whether those RadioShack licenses would stay. General Wireless Radioshack
REV states it will “quickly relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the store, there’ll be a familiar sufficient location to go when you desire to buy pricey HDMI cable televisions and knockoff headphones.